Welcome to Even Financial
We are excited to start our partnership with you! As one of our partners, you get immediate access to prequalify your users for personal loan offers and other financial services products in order to maximize revenue and provide a better matching experience for the end customer.
This document is intended to help you better understand our Leads API, including the logic behind the calls necessary to return all of our loan offers and our best practices for displaying loan offers to your users.
The Even Leads API allows partners to submit leads to the Even API, which returns loan offers to the partner. The returned offers include all of the information needed to be displayed to the user.
This document includes the following information:
We look forward to working with you!
OVERVIEW OF API RESPONSES AND LENDERS
When Even Financial receives offer requests from our API, we run a server-side filtering and matching process to determine the optimal response for your request. We then request a pre-approval for the user from financial service providers, however we may respond with any of the following offers:
CURRENT INVENTORY OF EVEN’S LENDER PARTNERS
We have a number of lenders on our platform that service Excellent, Good, Fair and Poor credit consumers. Lenders generally specify a particular credit range that they serve best. Therefore, it is important to have a comprehensive set of lenders (including lenders without APIs) so that you have the most coverage and generate the highest EPC possible.
These lenders generally have the highest approval rates out of all of the offers, but also stricter requirements about who they approve and lend to. The typical customer that is approved by these lenders have credit around 700, annual income above $50,000 and a low debt-to-income ratio. The Even Leads API will automatically filter the leads so that offers are shown only when we believe the user will be qualified.
These lenders will generate the most payout events given that they can lend to Fair credit consumers (600 and above), but there are fewer lenders and they are limited in the states they serve. As examples, Avant and Lending Club both have coverage in 40+ states, but Ascend and LendingPoint are limited to 8 and 16 states respectively. You can see which states to target for these lenders in the “Targeting Best Practices” section below.
Although there is lender coverage here, most of the revenue on Fair credit consumers will be made from Special Offers, so it’s important to have these enabled unless you definitively know that your leads will be higher quality.
These leads will almost certainly fall into Special Offers and will generate the lowest earnings per click. There are a couple of lenders we work with who can lend to Poor credit consumers in certain states (these states are in the “Targeting Best Practices” section), but the approval rates are extremely low given the credit quality of these consumers.
|Available Lenders||Has API?||Credit Score|
|Lending Club||Yes||Excellent, Good, Fair|
|Best Egg||Yes||Excellent, Good|
TARGETING BEST PRACTICES
Our lender network covers all 50 states, but based on the limited coverage of Fair and Poor credit lenders, we recommend targeting the following states to maximize revenue and generate the most approvals from our lenders:
Lenders will start at around $20,000, but we see the most success when the average annual income of users is $45,000. For consumers with annual income less than $20,000, we will route these consumers to the special offers.
The most popular and most successful loan purposes for consumer personal loans across our network are:
We recommend that partners target ages of 25 and older because people with longer credit histories have more time to establish credit and tend to have higher credit scores.
Even’s lenders can fund loans up to $100,000, with the majority funding between $3,000 and $35,000.
We recommend that partners implement a minimum amount of $1,000 and a maximum amount of $35,000, but note that most individuals who are requesting <$3,000 are likely going to fall into the Special Offers category.
Also note that we see higher approval rates for higher loan amounts, and because some lenders pay as a percentage of the funded loan amount, higher loan amounts generally result in higher payouts.
Given the diverse lender relationships across EVEN’s network, we partner with lenders that provide services to users with credit scores from 580 to 775+. Specifically, to ensure higher approval rates are generated from your leads, we recommend targeting users with minimum 640+ credit scores. The higher the credit score of the user, the likelihood the user will be preapproved from EVEN’s API lenders.